I'd like to learn to flip houses for a profit?

My day job is photography, specifically wedding/family/engagement/senior picture photography and I make really good money. I live in a military town that's near a university town, It's always been a dream of mine to do it, I love interior design. I know it's best to buy the house fully in cash but that could take a while to save up, I also thought about buying a place and then renting it out. So here are my questions. (Also, I plan on buying a good foundation home first, i know it will cost more but I'm looking for doing cosmetic type stuff first) I know you need enough money to cover a few months and money for the repairs. I plan on doing most of the repairs myself with my brother. We both have experience in the whole diy thing.

I guess my question is, if anyone has ever done this what is your story? Tips? Dos and donts? How long after buying and fixing can you rent it out? I don't know much about the business parts of it which is the only thing holding me back. Do you have to pay the mortgage off completely before renting? Is it better to buy and resell or buy and rent out? Thanks!

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